Betsson Posts Record-Breaking FY 2023 Report

Betsson has published its full-year report for 2023, reporting very strong results despite a few small setbacks in Q4. The overall group revenue continued to increase to all-time-highs throughout the year but the sports betting segment experienced a slight decline in the final quarter.

In Q4 2023, Betsson reported group revenue of EUR 251.9 million ($270.7 million), representing an increase of 14% year-on-year. The casino segment flourished, reporting an increase of 25% but the sportsbook revenue lagged, decreasing by 5%. The sportsbook margin was 6.2%.

Q4 EBITDA reached EUR 71.9 million ($77.26 million), representing a substantial increase of 40%. Operating income stood at EUR 57 million ($61.25 million), which translates to a remarkable increase of 42%. Net income, on the other hand, was EUR 43.3 million ($46.5 million). The company also posted an operating cash flow of EUR 47.6 million ($51.15 million).

The company ended the quarter with net debt of EUR -59.6 million ($-64million) and reported a 6% decrease in active customers to 1,345,129.

Despite a few smaller setbacks, Betsson’s overall 2023 results paint a nice picture for the company, demonstrating group revenue of almost a billion euros (EUR 948.2 million/$1.01 billion). EBITDA, meanwhile, increased by a stellar 52% to EUR 262.7 million ($283 million).

Betsson also reported an FY operating income of EUR 210.5 million ($226.2), representing an increase of a whopping 60%. Net income reached EUR 173 million ($185.9 million) while operating cash flow stood at EUR 230.4 million ($247.6 million).

The board of directors also proposed paying a dividend of EUR 88.5 million ($95.1 million), corresponding to EUR 0.645.

Pontus Lindwall Lauded His Team’s Hard Work

Betsson’s chief executive officer, Pontus Lindwall, praised this record-setting year that also saw the operator celebrate 60 years in business. He said that Betsson will continue to innovate, digitalize and provide fans with unforgettable experiences. Betsson will continue to put emphasis on online gaming and invest in digital experiences, CEO Lindwall promised.

Lindwall praised the high customer activity experienced by the company, which allowed it to record the highest levels ever for revenue and operating profit. He noted that Q4 marks the eighth consecutive quarter of sequential growth.

Betsson was further supported by its notable partnerships within the soccer sector and remains committed to supporting professional sports.

I look forward to 2024 with confidence. Betsson is well positioned for continued value creation thanks to a strong financial position, proprietary technology, an attractive customer offering and – above all – our employees.

Pontus Lindwall, CEO, Betsson

Lindwall extended thanks to his dedicated team that made the company’s favorable results possible.